Ringgit slips 0.4% against US dollar, opens mostly higher against other basket of currencies

Quick Summary:

KUALA LUMPUR: The local currency traded 0.4 per cent weaker against the US dollar as the US Dollar Index rose further to 108.142 points following the United States (US) Federal Reserve's (Fed) decision to cut the Fed Funds Rate by 25 basis points last night.

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"Clearly, they want to cut more but are still wary of inflation risk.As for the Trump 2.0, the chairman admitted that they are not privy to such information and, therefore, it is difficult to incorporate such scenarios in their decision-making process.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanSingaporeUnited States

Topics: Ringgit /Business/Business News Mohd Afzanizam Abdul Rashid Bank Muamalat US dollar FOMC Fed Forex

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 09:12:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 439 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24542429

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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